What is a Variable Pension Benefit (VPB)?
The Variable Pension Benefit (VPB) is a source of income or ‘pension’ during retirement. It is a flexible option that lets you control your retirement income and choose how it is invested within the Plan. You simply leave your money in PEPP and begin to withdraw it through the VPB. The VPB is available to all current and former PEPP members. VPB offers members: • Flexible payments – you choose when and how much income to receive. You can choose regular payments, or request lump-sum payments or do both. • Control of investments you hold – with VPB you are able to choose and transfer between investment options within the Plan.
Related Questions
- If a member is eligible for pension and dies in service without an insured death benefit or widows pension, is his beneficiary entitled to a refund of his contributions?
- How is pension growth assessed in a defined benefit scheme such as the Teachers’ Pension Scheme?
- Whats the difference between 401k plans and defined benefit (pension) plans?
